A Manx factory has been bought by a Pennsylvania company as part of a £41.5 million deal.
Aerospace firm Triumph Group is buying GE Aviation’s hydraulic actuation business, which has factories in the US and England as well as the Isle of Man.
The factory on School Lane in Onchan produces hydraulic components for aircraft landing gear and was bought by GE Aviation in 2007.
The acquisition is still subject to regulatory approvals and is expected to be finalised over the summer.
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It takes effect from 1 January 2025
